Filing Flows › Financials › First Horizon (FHN)
First Horizon (FHN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · First Horizon (FHN) Q3 2026 earnings results →
Q3 2026 Revenue down 54% year over year to $407M · 19¢ of every $1 of revenue lost · operating margin -23.8%
First Horizon made $407M in Q3 2026 (-54% Y/Y). Operating margin -23.8%, net loss $79.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $407.0M in Q3 2026, down 54% year over year and down 54% from the previous quarter.
Operating costs exceeded revenue by $97.0M, an operating margin of -23.8%. Total costs fell 8% while revenue fell 54%. The fastest-growing cost line was Sales & marketing (+33%). The quarter ended with a net loss of $79.0M, after a profit of $274.0M the previous quarter.
Operating cash flow was $623.0M. Non-cash charges added back $19.0M of depreciation and amortization and $14.0M of share-based compensation. Working capital and other items added $669.0M. Capital expenditures of $29.0M left free cash flow of $594.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $407M | -54% | -23.8% | −$79.0M | $623M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $887M | +7% | 38.3% | $270M | $585M |
| Q1 2026 | 10-Q | May 7, 2026 | $862M | +6% | 39.7% | $262M | $278M |
| Q4 2025 | 10-K | Feb 26, 2026 | $888M | +22% | 38.6% | $262M | $396M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $889M | +8% | 38.7% | $262M | −$200M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $830M | +2% | 37.2% | $241M | $83.0M |
| Q1 2025 | 10-Q | May 7, 2025 | $812M | -0.9% | 35.1% | $218M | $349M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About First Horizon
First Horizon Corporation is a Tennessee corporation. We incorporated in 1968, and are headquartered in Memphis, Tennessee. We are registered as a bank holding company and have elected to be treated as a financial holding company. Our common stock is listed on the New York Stock Exchange under the symbol “FHN.” At December 31, 2025, we had total consolidated assets of $84 billion. We provide commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services principally through our wholly-owned subsidiary, First Horizon Bank. Founded in 1864 as First National Bank of Memphis, the Bank is a Tennessee banking corporation headquartered in Memphis, Tennessee. At December 31, 2025, the Bank had $84 billion in total assets, $68 billion in total deposits, and $64 billion in total loans (including
In its own words, from its 10-K, filed Feb 26, 2026.
First Horizon against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -54% against the peers' median +6%. Operating margin: -23.8% against the peers' median 30.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FHN First Horizon | Q3 2026 | $407M | -54% | -23.8% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: First Horizon 10-Q on SEC EDGAR · CIK 36966 · National Commercial Banks
Guidance and outlook
13F: who owns FHN and who is buying
More on FHN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results